Debts Related to Fertility Treatments
Even in a place like South Florida, where every commercial break on local radio and TV stations is for a cosmetic surgery clinic, people are still plenty judgmental about patients who spend money on elective medical procedures. If you are struggling with infertility or recurrent pregnancy loss, though, you are probably dealing with criticism from all sides, both from your in-laws who demand that you give them a grandchild ASAP or they will find their son someone who will and from the people who, despite being parents themselves, think that you are selfish for wanting a baby. Fortunately, if you have gotten to the stage where you have started contacting fertility doctors, you have learned to block out all that noise. Whether or not your health insurance covers fertility treatments, you will probably have to pay considerable sums out of pocket. If you are able to bring home a baby after less expensive treatments such as ovulation-inducing drugs or intrauterine insemination (IUI). The really big price tags come from in vitro fertilization (IVF), which is the most effective treatment for female factor infertility arising from fallopian tube dysfunction and for male factor infertility. One percent of births in North America and Western Europe last year were from IVF pregnancies, and not all of the babies included in this figure belong to the wealthiest one percent of families. Borrowing money to pay for fertility treatments is more common than you think it is, and a Jupiter debt lawyer can help you strategize about it.
How Can Patients Borrow Money to Pay for IVF?
Undergoing fertility treatments is a marathon, not a sprint, and many couples undergo multiple rounds of IUI or IVF over a period of several years. Because fertility declines with age, delaying treatment until you can pay for it without borrowing may be counterproductive; the same woman may need to pay $30,000 for fertility treatments to have one child if she begins treatment at age 35 but $60,000 if she begins treatment at age 39. (The prices can be even higher; these figures assume that the patient’s health insurance pays for some of the costs.)
You might go into it with unbridled optimism, thinking that your treatment will be successful after a few swipes of your credit card, but many patients require more than one IVF cycle, meaning that your credit card will be long since maxed out as you prepare to begin another round of IVF. You can take out unsecured personal loans (which are not especially cheap if your credit card is already maxed out) or, if you own your house, a home equity line of credit is an option. Some fertility clinics offer unsecured loans, which are convenient, but not especially inexpensive.
When Debts Linger After You Have Finished Your Treatments
Fertility treatments are even more expensive when they pay off; soon your budget will need to include not only payments on your fertility treatment loans, but also diapers, daycare, and clothes that fit for an alarmingly short time. A lawyer can help you explore options such as debt consolidation and debt settlement.
Work With a Debt Lawyer About Debt Management for Growing Families
A South Florida debt lawyer can help you cope with debts arising from fertility treatments. Contact Nowack & Olson, PLLC in Plantation, Florida to discuss your case.